Nidec Acquires Canton Elevator - Quick Facts

(RTTNews) - Nidec Corp. (NJDCY.PK) said that it has acquired full ownership of Canton Elevator Inc., a privately owned US company, from its owners through the Company's subsidiary, Nidec Motor Corporation based in St. Louis, Missouri, U.S. on December 5, 2016.

The company expects Canton to expand Nidec's EDS business in North America primarily by adding Canton's competitive elevator packages to its product lineup, which will enable the Company to provide a broader range of customers with comprehensive elevator solutions.

Through the Transaction, the company expects Canton to expand Nidec's EDS business in North America primarily by adding Canton's competitive elevator packages to its product lineup, which will enable the Company to provide a broader range of customers with comprehensive elevator solutions.

The Transaction is expected to have no significant impact on the Company's consolidated financial performance for the fiscal year ending March 31, 2017.